There are currently no known outstanding effects for the Finance Act 2013, Paragraph 14.
14(1)In section 417 of ITTOIA 2005 (person liable for charge on release of loan or advance), for subsection (1) substitute—U.K.
“(1)The person liable for any tax charged under this Chapter is—
(a)in the case of a loan or advance made to a partnership, any partner who is an individual, and
(b)in any other case, the person to whom the loan or advance was made.
(1A)If more than one person is liable in a case within subsection (1)(a), the liability is to be apportioned between them in a just and reasonable manner.”
(2)The amendment made by this paragraph has effect in relation to loans or advances made on or after 20 March 2013.
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
